FLORIDA and NORTH CAROLINA — Monticello has provided $35.9 million in first lien debt financing for the acquisition and renovation of four communities in Florida and South Carolina. The properties, totaling 345 units, offer assisted living and memory care services. The names and specific locations were not disclosed. The borrower is an owner-operator with a total portfolio of 1,116 units.
South Carolina
Ziegler Arranges $35.7M Bond Financing for The Woodlands at Furman Expansion in South Carolina
by Jeff Shaw
GREENVILLE, S.C. — Ziegler has arranged a total of $35.7 million in bond financing for The Woodlands at Furman, a nonprofit continuing care retirement community (CCRC) in Greenville. The community opened in 2009 adjacent to Furman University on land leased by The Furman University Foundation. The property currently features 132 independent living apartments, 28 independent living villas (some of which are under construction), 32 assisted living apartments, 16 memory care units and 30 private skilled nursing units. The bond financing will fund an expansion at the property, adding 44 independent …
Phoenix Senior Living, Whitehall Development Group Building 43-Unit Community in South Carolina
by Jeff Shaw
CAMDEN, S.C. — Phoenix Senior Living has formed a joint venture with Whitehall Development Group to construct The Colonial at Old Camden. The community will feature 43 units of assisted living and memory care in a 31,000-square-foot building. Camden is located approximately 35 miles northeast of Columbia. Construction is nearly complete, with residents expected to start moving in in March.
Watercrest Appoints Joy Patterson as Executive Director of 107-Unit Community in South Carolina
by Jeff Shaw
INDIAN LAND, S.C. — Watercrest Senior Living Group has appointed Joy Patterson as executive director of Watercrest Fort Mill Assisted Living and Memory Care in Indian Land, just across the state border from Charlotte. Watercrest Fort Mill is a 107-unit resort-style senior living community currently under construction by Shiel Sexton and scheduled to welcome residents this spring. Patterson joined Watercrest Senior Living Group in early 2019, leading the pre-operational management of Watercrest Columbia Assisted Living and Memory Care, before transitioning to her new position. Patterson’s healthcare career began as a …
CHARLESTON, S.C. — Truist Financial Corp., through Atlanta-based SunTrust, has provided $50 million in financing to support the renovation and expansion of Bishop Gadsden Episcopal Retirement Community on James Island in Charleston. The funding will allow Bishop Gadsden to renovate existing assisted living facilities and construct a new 156,000-square-foot Health Care and Rehabilitation Center. Renovations to the existing building will result in 81 one- and two-bedroom assisted living units. The new building will feature 32 memory care, 64 long-term skilled care and 32 short-term skilled post-acute rehab residences. The project …
GREENVILLE, S.C. — Rocky Berg of Dallas-based firm three will join the architecture team at senior living community The Woodlands at Furman in Greenville. The developers of the community are planning a $19 million expansion and repositioning project. A groundbreaking will be help Jan. 31, 2020, for the 13,000-square-foot community village, which will feature a wellness center, swimming pool, spa services. The building represents the start of a multi-phase project, which will ultimately include more than 40 new independent living residences and an expansion of dining offerings. A university-based senior …
Resort Lifestyle Communities Plans $30M Active Adult Community in Columbia, South Carolina
by Jeff Shaw
COLUMBIA, S.C. — Resort Lifestyle Communities (RLC) has unveiled plans for Lakeview Retirement Community, an active adult property in Columbia. The 180,000-square-foot property will offer units ranging from studios to three-bedroom apartments. A groundbreaking ceremony is scheduled for Feb. 11. Development costs are estimated at $30 million. Although services will not be offered directly, residents needing care are free to contract with a home health provider, according to RLC.
GREENVILLE, S.C., and NAPLES, ST. PETERSBURG and CLEARWATER, Fla. — Inspirit Senior Living has acquired a portfolio of four seniors housing properties located throughout the west coast of Florida and in South Carolina. Formerly operated by Brookdale Senior Living, the communities have been rebranded as The Collier at Naples in Naples, The Pointe in St. Petersburg, The Landmark in Clearwater and The Parker in Greenville. Inspirit formed a joint venture with Venue Capital LLC, an investment and asset management firm that partners with regional operators, for the acquisition. Inspirit and …
DALLAS, GREENVILLE, S.C. and SANTA FE, N.M. — Dallas-based architecture firm “three” has completed design work on three seniors housing communities — expansions in Dallas and Greenville, and a ground-up development in Santa Fe. Locally, three is leading a $35 million repositioning effort for Presbyterian Village North, owned and operated by nonprofit Presbyterian Communities and Services. The project will add 112 independent living units and a 30,000-square-foot commons building at the campus core. In South Carolina, for the single-site Woodlands at Furman community in Greenville, the firm designed a $19 million …